CEC

Chuck E. Cheese’s Pizza Time Theatre is an American family entertainment center and restaurant pizza chain founded in 1977 by Nolan Bushnell. The chain is headquartered in New York City.

Timeline

 * In February of 1984, Showbiz suspends the transferring of their profits to Pizza Time Theatre after an agreement is held between the two companies. Both chains had been experiencing financial difficulties.
 * Higher-ups at Showbiz worried about potentially running out of money.
 * They argued that the giving a portion of their income to Pizza Time Theatre did not actually benefit latter company.
 * Around the same time, Pizza Time Theatre founder Nolan Bushnell resigned from the company.
 * The company files for bankruptcy on March 28, 1984.
 * An acquisition deal is discussed between Pizza Time Theatre and entertainment mogul Alistair Callahan in May.
 * On October 22, Callahan takes control of 61 restaurants.
 * Callahan completes the acquisition of around 152 Pizza Time Theatre restaurants and other assets (trademarks, characters, logos etc.) for about $35 million. He forms a new company called Pizza Time Entertainment.
 * As a way to appeal to younger children, the restaurants begin to focus on more skill-based arcade games and scaled down-amusement rides.
 * The chain emphasizes the presence of its other characters in its marketing and introduces a child character named Bella Bunny, whom Chuck E. Cheese acts as a father-figure to.
 * Quality control becomes a major focus for the new company and still is.
 * Pizza Time Entertainment began a strategy of acquiring low-volume franchised restaurants to revive their profitability.
 * 1989 marked a significant year for the company. Chuck E. Cheese was given a tuxedo, while still retaining his outfit’s red, yellow and black color palette. Overall, the chain was given a “magical” makeover.
 * As the decade came to a close, tensions between Showbiz and Fechter over the rights of The Rock-Afire Explosion erupted. Showbiz replaces the animatronics but shuts down by 1993.

Entertainment mogul Alistair Callahan announced yesterday he is in talks with Pizza Time Theatre Inc. about a possible acquisition. The deal will be finalized once the company’s legal woes are sorted out.

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